The Best Trading Apps in India According to Traders Union

Thanks to the affordable smartphones and inexpensive data plans that are widely available in India, a growing number of Indians have developed an interest in stock markets and foreign exchange trading. With numerous trading firms launching their mobile applications, millions of trading enthusiasts have been able to enhance their knowledge and refine their skills with just a few taps on their smartphones.

However, given the multitude of available apps for download, determining which trading app is authentic and offers high-quality features at reasonable prices can pose a challenge.

Fortunately, after a comprehensive review of hundreds of trading apps, Traders Union experts compiled a list of the best Forex trading app in India. 

Continue reading to learn more.

Selecting the Top Trading Apps in India: A Comprehensive Guide

1. Conduct thorough research on any app before downloading and using it to ensure its legality and authenticity. Given the increasing prevalence of cybercrime in the country, it is crucial to verify the credibility of the app and ensure it is obtained from a registered stockbroker. Traders Union can provide valuable advice in this regard.

2. Evaluate the features and benefits offered by the app. Different stockbrokers have varying brokerage fees and features, so compare them to determine which app best suits your requirements.

3. Assess the range of assets available on the platform. In addition to equities, stockbroking apps may offer trading or investment opportunities in commodities, options, IPOs, mutual funds, and other financial instruments. Choose the app that aligns with your specific needs.

4. Consider the functionality of the app. It should be user-friendly, allowing you to navigate effortlessly through all settings and execute orders quickly. Ideally, the app should also provide equity research and relevant news to aid in your trading decisions.

5. Look for apps that offer a demo account option, particularly if you are new to stock trading. This feature allows you to practice and familiarize yourself with the app’s interface and functionalities before creating a live account.

Using the above criteria, Traders Union experts came up with the list of the best 5 trading apps in India; they are:

1. RoboForex

RoboForex has gained a strong reputation as a leading trading app both in India and globally. One of its notable advantages is the opportunity for traders to participate in cost-effective Forex and stock trading. With the RoboForex R Stock Traders app, users can access a wide range of trading options, including over 3,000 stocks and 8,000 CFDs on stocks. The app offers comprehensive charting tools and the added convenience of automated trading features.

2. IC Markets

IC Markets, an Australian trading platform, welcomes traders from across the globe, including India. It caters to both individual and institutional investors, providing a diverse range of trading options, including indices, futures, commodities, and currency trading. The platform also offers the convenience of a demo account, allowing users to gain confidence and experience before engaging in live trading.

3. Exness

EXNESS has established itself as a prominent trading app in India, garnering a growing user base comprising hundreds of thousands of traders. This platform offers access to both the renowned MT4 and MT5 trading platforms. Known for their user-friendly interfaces and extensive customization options, these platforms have gained recognition in the trading community.

4. AMarkets is a broker with innovative technology that offers modern trading platforms, such as STP, ECN, and liquidity aggregation, for algorithmic and independent online trading. Clients can open an ECN account with a $200 minimum deposit, enjoy no swaps on commodities and indices, and save up to 30% on swap fees for metals, currency pairs, and cryptocurrencies. AMarkets has regular promotions to boost profitability and a welcome bonus for new clients on the MetaTrader 4 platform. With MetaTrader4 and xStation, traders can choose the platform that fits their preferences and trade Forex, CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

5. MultiBank MultiBank is a regulated multi-asset broker offering Forex, CFDs, and crypto trading on MetaTrader and cTrader platforms since 2005. They provide low Forex trading markups and zero-pip raw spreads with a $3.00 commission per round 

trip on their ECN account. MultiBank offers three social copy trading options, including their in-house platform and MetaTrader Trading Signals, and commission-free equity CFD trading. Their Pro account has commission-free Forex mark-ups from 0.8 pips or $8.00 per round lot.

In addition to those mentioned above, Traders Union experts also consider FxPro and XM Group as some of the best programs for Forex trading in India. Traders Union experts have highlighted FxPro and XM Group’s commitment to providing a safe and secure trading environment for their clients, including advanced security protocols, strict regulatory compliance, and negative balance protection.